The judging panel Stuart Ross, ex-Belhaven/Greene King - panel chairman Jack Ogston, Clydesdale Bank John McNeil, Optos Fred Hallsworth, Hallsworth Partnership Eric Hagman, Matthew Algie & Company Deal of the Year Winner: Clyde Blowers Runners up: Iomart; Dana Petroleum The acquisition of four US companies by Clyde Blowers represented a "big deal for Scottish business on the world stage" according to the panel.

"A very ambitious move by what is increasingly one of Scotland's flagship companies," commented one judge of the unanimous winner of the award.

The deal saw assets in 20 countries across the globe become part of the Clyde Blowers empire and has enabled the Glasgow-based company to move into new markets and industrial sectors.

The way the Iomart board packaged the Ufindus business for a clean sale and realised a significant profit was also seen as a superbly executed transaction.

The panel said Dana Petroleum's £123m deal to buy Canadian plc Bow Valley Energy was another impressive example of a Scots company furthering its ambitions on the world M&A stage.

The acquisition added five new oil and gas producing fields to Dana's portfolio and increased production, cash flow and profits by more than 20 per cent.